Gallagher Re has named Steven Housse (pictured above) as its facultative reinsurance leader for North America, effective March 13, as the global broking and advisory firm continues to build out its individual risk placement capabilities.
Housse joins from BMS Group, where he spent three years as managing director. He brings more than 20 years of experience spanning the London and US markets, having previously held senior positions at Guy Carpenter, Marsh, and Brown & Brown.
His background covers facultative placements, client engagement, and market development.
In his new role, Housse will oversee Gallagher Re's facultative strategy across the United States and Canada. His remit will cover individual risk and facultative facilities across property, casualty, and specialty lines.
"We are very pleased to welcome Steve to Gallagher Re, and look forward to the leadership, insight, and energy he will bring to our North American facultative operations," said Pablo Muñoz, global CEO of facultative at Gallagher Re.
Housse's appointment is the latest in a series of moves aimed at scaling the firm's facultative reinsurance platform.
In February, Gallagher Re brought on Kevin Ingram as vice president and Lauren Mathis as associate vice president within its US property facultative team. Ingram joined from McGill and Partners, while Mathis came from Guy Carpenter.
The firm also launched a dedicated captives risk transfer team within its global facultative business in December 2025, led by Martin Hughes as executive vice president.
Muñoz himself was appointed as Gallagher Re's first-ever CEO of global facultative reinsurance in July 2025, a newly created role overseeing specialists across London, Singapore, Sydney, New York, and the Middle East. He previously spent over a decade at Aon.
The hiring push comes as the facultative reinsurance market undergoes a notable shift in pricing dynamics. Gallagher Re's own research found that the global market moved to buyer-friendly conditions at the January 2026 renewals, with rate reductions recorded across most lines and regions.
In the US and Canada, average property facultative rates fell by 25% to 30%, with even loss-affected accounts seeing double-digit decreases.
Muñoz has attributed the softening to abundant capital, expanding appetite, improved technical results, and a steady flow of new capacity. Gallagher Re's 1st View report projects total dedicated reinsurance capital at $838 billion by year-end 2025, with traditional capital up about 8% to $710 billion.
Yet underlying exposures continue to climb. Swiss Re estimates global insured losses reached $107 billion in 2025, with the US accounting for 83% of the total. That tension between easing rates and escalating risk has made facultative placements an increasingly important tool for insurers managing net retentions.
Global CEO Tom Wakefield has said the firm's priority is working with clients to tailor reinsurance buying strategies at a time of abundant capacity. Steven Housse's appointment signals that North America remains central to that effort.
